CVS Health CEO Karen Lynch has stepped down, with company shares sinking 19% this year and the health-care giant struggling on several fronts. CVS Health also warned of disappointing third-quarter earnings and said investors should not rely on guidance it laid out in August. Lynch will be replaced by veteran CVS Health executive David Joyner.
Earlier this year CVS Health cuts its 2024 profit forecast due to an increase in Medicare-related costs.the health-care giant struggling on several frontsCompany shares tumbled again Friday after CVS Health also warned of disappointing third-quarter earnings and said investors should not rely on guidance for that quarter that was provided in August.
With Lynch’s departure, there are now 45 female CEOs in the S&P 500, representing about 9% of all CEOs, according to the executive data firm Equilar. Barclays analyst Andrew Mok said Friday that the struggling insurance arm now has a leadership gap that the company will have to address in the near term.The company has been operating “well below its potential and has fallen short in its investment and actuarial approach in recent years,” Glenview Capital Management said earlier this month.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CVS Health CEO Lynch steps down as national chain struggles to right its pathCVS cut its financial expectations for the third time in August.
Read more »
CVS Health CEO Lynch steps down as national chain struggles to right its pathCVS Health CEO Karen Lynch has stepped down with company shares down 19% and the national drugstore chain struggling. Lynch will be replaced by David
Read more »
CVS Health CEO Lynch steps down as national chain struggles to right its pathCVS cut its financial expectations for the third time in August.
Read more »
CVS Health CEO Lynch steps down as national chain struggles to right its pathCVS cut its financial expectations for the third time in August.
Read more »
CVS Health CEO Lynch steps down as national chain struggles to right its pathCVS Health CEO Karen Lynch has stepped down and is being replaced by David Joyner as the health care giant continues to struggle with rising costs
Read more »
CVS Health CEO Lynch steps down as national chain struggles to right its pathCVS cut its financial expectations for the third time in August.
Read more »